Search
 

Job switchers can make more, but be wary of referrals

Workers who get hired via employee referrals could end up with the short end of the stick paywise, depending on their relationship to the employee who referred them.

By Marlene Y. Satter | Updated on January 23, 2018
For job switchers, a move with a referral could make a substantial difference in their pay... depending on who refers them and their relationship to the referrer. (Image: Shutterstock)

People who switch jobs make more—especially in certain sectors—than those who stay with an employer, says a new study, although it depends on whether they’re full time or part time. In addition, workers who get hired via employee referrals could end up with the short end of the stick paywise, depending on their relationship to the employee who referred them.

An ADP study finds that while job holders—those who stay in a single job for at least a year—saw their wages grow by 4.3 percent year over year in the fourth quarter, job switchers—those who changed jobs during that year—only saw a 3.3 percent increase YOY in Q4. On average, job holders made an average of $10 more in hourly levels than job switchers. But when considering only full-time workers, the switchers made out better than the holders, with a gain of 4.9 percent compared with holders’ 4.3 percent.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.